The central bank adviser: community banks a monopoly on hard currency exploiting the security situation

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Follow-up / newspaper Alasagama -

The central bank adviser said the former Iraqi appearance of Mohammed Saleh, on Sunday that some private banks are working for their personal interests without restraint in the conduct of speculative cash to monopolize the dollar, calling for the monetary authority to be held accountable immediately.

Saleh said in a press statement that "the high exchange rate of the dollar in financial transactions in the capital Baghdad, which reached to about (123) thousand dinars, compared to the category of U.S. $ 100, was due to the unstable security situation and the violence that has allowed the existence of a state of chaos in the conduct of speculative cash by private banks, describing the "increasing popularity and demand for the U.S. dollar and foreign currency in Iraq, currently about it is natural."

Saleh added that "there is panic in the Iraqi society has led in turn to the presence of Iqbal unrivaled on the purchase of hard currency to protect themselves from any real risk of life-threatening", adding that "the security situation is the current of the cause to find a kind of mess to deal in hard currency by different views. "

He said the central bank adviser of former Iraqi that "private banks doubled now from speculative operations or what is known as" dollar cash "and $ 5,000 and received by the citizen who wishes to travel to meet the submission of his passport or identity card," pointing out that "some private banks exploit This process for large financial gains through the monopoly of foreign currency, which can be manipulated through control of the operations of the supply and demand condition activation procedures exchange foreign currency. "

Saleh pointed out that "speculative operations by private banks in the monopoly of the dollar and increase profits will create an atmosphere uncomfortable for the Iraqi economy," stressing that "imposed on the monetary authority to monitor the situation immediately and evaluation of pumping dollars of transactions sufficient to him, stressing that the committees of inspection and audit processes speculation private banks exist but do not work in the case of the volatile security situation currently Masterk a big impact on the local business market. "

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